Reliance Retail to seek doubling of borrowing limit to Rs 1 trillion

According to the Reliance Retail's annual reports, the company will seek shareholders' approval in the September 30 annual general meeting

To boost its growth and expansion, Reliance Retail has reportedly sought shareholders' approval to increase its borrowing limit from Rs 50,000 crore to Rs 1 trillion. According to a report by Economic Times (ET), the company borrowed Rs 40,000 crore in FY22.

According to the company's annual reports, the company will seek shareholders' approval in the September 30 Annual General Meeting (AGM), ET reported. 

In its AGM in August, Reliance stated that Reliance Retail will start its FMCG business and set up over 2,000 brick-and-mortar stores annually.   

According to ET, out of Rs 40,000 crore, long-term borrowings accounted for